Sep 21, 2023
Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer.
This is a topic that’s close to Donna, having lost her husband in 2013 and facing many of the challenges we’re talking about in this episode. So we’ll explore actionable strategies to address these issues, such as the importance of life insurance and the ins and outs of spousal pension continuation. We hope this episode helps out anyone who is concerned with ensuring the financial well-being of their remaining family members and safeguarding your financial future and legacy in the face of loss.
Here are some key takeaways from this episode:
- Donna shares her personal experience dealing with the loss of her husband and the financial challenges that she immediately faced in the aftermath.
- The changes in tax filing that surprises many widows and what you need to be prepared.
- Some of the financial planning strategies you can use to prepare yourself for this emotional situation.
- What are some of the things you need to be thinking about to help take care of your kids and grandkids.
- What Donna thinks about having a trust and why you need to work with an estate planning attorney about the options.
If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.
Get additional financial information: https://sephtonfinancial.com/podcasts/